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10 Grand Central St

Faith Sommerfield Leases Office Space At 10 Grand Central, Manhattan For 10 Years
LEASEDOffice

Faith Sommerfield Leases Office Space At 10 Grand Central, Manhattan For 10 Years

10 Grand Central St

$108

$108/SF

Building Size

7,719 SF

Asset Type

Office

Closing

Feb 1, 2024

AI

The office space at 10 Grand Central St in Manhattan has been leased by The Completed Life Initiative for 7,719 square feet. The tenant, represented by Lantern Real Estate's Jessica Adler and Matthew Seigel, secured a 10-year lease from landlord Craig M. Deitelzweig of Marx Realty at an asking rent ranging from $68 to $108 per square foot.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: Not specified
  • Address: 10 Grand Central St
  • Market: Manhattan
  • Landlord: Craig M. Deitelzweig - Marx Realty
  • Tenant: Faith Sommerfield - The Completed Life Initiative
  • Landlord's Rep: Carlee Palmer, Kyle Young, Mitchell Konsker, Simon Landmann & Thomas Swartz - JLL
  • Tenant's Rep: Jessica Adler & Matthew Seigel - Lantern Real Estate
  • Asking Rent: $108/ft
  • Square Footage: 7,719

A JLL team consisting of Mitchell Konsker, Kyle Young, Carlee Palmer, Simon Landmann, and Thomas Schwartz represented the landlord in the lease deal, while Lantern Real Estate's Jessica Adler and Matthew Seigel represented the tenant, The Completed Life Initiative.

Players

Kyle Young

JLL

Broker

$38.2M

vol

16 deals

Broker

New York Office Market Snapshot

Boundary boundary · Office · Lease transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

146879.63%

Cash-on-Cash

-41978.65%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93